If you are graduating, on a leave of absence or enrolled less than half-time, federal regulations and university policy require you to complete Exit Loan Counseling.
Federal Perkins Loans are available only to students in certain programs of study or who may have received a Perkins Loan in the prior academic year.
Qualification
To receive this loan, you must:
- Apply for financial aid and demonstrate eligibility.
(The Federal Perkins Loan will be listed on your Financial Aid Summary if you are eligible.); - Be enrolled for the number of units indicated on your Financial Aid Summary;
- Submit all required documents to the Financial Aid Office; and
- Maintain Satisfactory Academic Progress.
general information
- The interest rate is fixed at 5 percent.
- The ten-year repayment period begins nine (9) months after graduation or when you drop below half-time enrollment.
receiving your loan
- You must authorize the University of Southern California to credit the funds to your student account by signing a Master Promissory Note (MPN) online. The University has partnered with ECSI for this purpose.
- You will receive an e-mail (at your official USC address) with instructions on how to accept and sign for these loans electronically. You will need your FAFSA PIN to complete the process.
- For more information, visit the Student Financial Services website.
- If you choose not to borrow additional Perkins Loan funds in subsequent years, please inform the Financial Aid Office in writing and your award will be canceled.